Commerzbank Aktiengesellschaft FI Buys 11,023 Shares of Medtronic plc (NYSE:MDT)

Commerzbank Aktiengesellschaft FI increased its stake in Medtronic plc (NYSE:MDT) by 99.8% during the fourth quarter, HoldingsChannel reports. The firm owned 22,072 shares of the medical technology company’s stock after acquiring an additional 11,023 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Medtronic were worth $1,758,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Medtronic by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,002,051 shares of the medical technology company’s stock worth $639,204,000 after purchasing an additional 134,647 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Medtronic by 10.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 228,560 shares of the medical technology company’s stock worth $18,257,000 after purchasing an additional 21,244 shares during the period. Schechter Investment Advisors LLC grew its stake in Medtronic by 48.0% in the 4th quarter. Schechter Investment Advisors LLC now owns 6,942 shares of the medical technology company’s stock valued at $555,000 after buying an additional 2,252 shares in the last quarter. Meridian Wealth Management LLC grew its stake in Medtronic by 3.7% in the 4th quarter. Meridian Wealth Management LLC now owns 7,816 shares of the medical technology company’s stock valued at $624,000 after buying an additional 277 shares in the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. grew its stake in Medtronic by 2.3% in the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 42,427 shares of the medical technology company’s stock valued at $3,419,000 after buying an additional 937 shares in the last quarter. Institutional investors own 82.06% of the company’s stock.

Insider Activity

In other news, EVP Brett A. Wall sold 12,437 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $90.00, for a total transaction of $1,119,330.00. Following the sale, the executive vice president now owns 40,979 shares in the company, valued at $3,688,110. This represents a 23.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.20% of the company’s stock.

Medtronic Price Performance

MDT stock opened at $93.09 on Wednesday. Medtronic plc has a 1 year low of $75.96 and a 1 year high of $95.57. The company has a market cap of $119.40 billion, a P/E ratio of 28.30, a PEG ratio of 2.22 and a beta of 0.84. The firm has a 50-day moving average of $87.57 and a 200 day moving average of $87.63. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 1.39.

Medtronic (NYSE:MDT) last announced its quarterly earnings data on Tuesday, February 18th. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.03. The business had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Medtronic had a net margin of 12.83% and a return on equity of 14.07%. On average, sell-side analysts forecast that Medtronic plc will post 5.46 EPS for the current year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Friday, December 27th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Friday, December 27th. Medtronic’s payout ratio is 85.11%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDT. Needham & Company LLC reiterated a “hold” rating on shares of Medtronic in a research note on Wednesday, February 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $105.00 price objective on shares of Medtronic in a research note on Wednesday, February 19th. JPMorgan Chase & Co. reduced their price objective on shares of Medtronic from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Friday, November 15th. Citigroup upgraded shares of Medtronic from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $107.00 in a research note on Tuesday. Finally, Robert W. Baird boosted their price target on shares of Medtronic from $90.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $96.07.

Medtronic Profile

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.